Product-market fit is an important concept to understand if you want to be successful and grow your business. It's the idea that you've found a product that addresses the needs of the market. Achieving this can be difficult because it requires a lot of research and understanding what people want or need. Marc Andreessen put it best, "It's the only thing that matters".
What is product-market fit?
The definition of product-market fit is hard to pin down, but Marc Andreessen describes it as follows, "It's when you have a minimum viable product that early adopters love and they can't stop talking about it".
Your business may have the best products in the world, but without product-market fit, it's not going to go far. It's not something that can be easily defined, but it's the combination of having a product that people love and addresses an unfulfilled need in the market. There are some important factors that come into play like:
- Understanding what type of people or companies you want your product for
- Identifying when it works best and who would benefit most from using your product
- Knowing how to communicate this so they can keep coming back for more
It's a lot of work to figure out those needs and build a product that will hit the mark. Sometimes it can even take several attempts before you get it right, but once you do, everything else becomes easier.
From Superhuman's Rahul Vohra to a16z's Marc Andreessen, here are some the greatest pieces of content available on what product-market fit feels like and how to find it.